Merger vertically integrates 3L's parent company, above-the-rack commodity trading firm Spec Oil, into downstream petroleum where it can capture higher margins through automated operations.
SAN MATEO, Calif., April 17, 2023 /PRNewswire-PRWeb/ -- 3L Energy Solutions merged three small fuel distributors into one 50-plus-truck operation by modernizing its logistics with FleetPanda, a unified dispatch platform. The move vertically integrates 3L Energy Solutions' parent company, Spec Oil, into the downstream sector of oil and gas, where it can capture last-mile distribution's potentially high profit margins with automated fuel operations.
"It was clear to us that to bring three companies with different cultures and processes together as one cohesive unit, and at the same time set them up to scale and grow, we needed to leverage technology," Alex Salazar, Vice President of Operations of 3L Energy Solutions, said. "FleetPanda impressed me because it's a modular logistics software based in the cloud. It let us bring everyone onto a single paperless system customized to how we work. This was something legacy softwares didn't offer."
In four days, 3L Energy Solutions launched FleetPanda across more than 50 trucks in its transport and tank wagon lines serving three different market segments across Texas. FleetPanda employees rode with drivers, teaching them step by step how to use the software. Salazar credits a white glove implementation process for seeing results so quickly, including a shorter order-to-cash timeline.
"FleetPanda has not only allowed our dispatch operations and billing to become more efficient and seamless, but now we actually have real-time data that we can use in analytics and making business decisions on how we want to proceed in growing the company," Salazar said.
Growth is a priority as Spec Oil plans to acquire more distributors across Texas and other states. 3L Energy Solutions will only become more efficient as it grows, too. With fully automated fuel operations, 3L Energy Solutions can apply advanced technologies, like using machine learning to analyze its data. That will enable Salazar and his colleagues to run the company as an enterprise.
"I'm very excited that we finally have a foundation in place to leverage our operations and our strengths to further grow the company," Salazar said. He's also joined FleetPanda as a Design Partner to develop new modules such as tank monitoring, best buy, and routing.
"It's a privilege to work with leaders like Alexander Salazar and 3L Energy Solutions who see technology as a lever to create growth," Pavan Maheshwari, founder and CEO of FleetPanda, said. "In an industry where so much is still done with pen and paper, 3L is setting itself up to outscale its competition."
FleetPanda is an all-in-one logistics platform that helps companies plan more efficiently, make smarter decisions, and automate their workflows. The platform centralizes distributors' entire operations in one place, and its modular design adapts to each customer's specific needs and requirements. FleetPanda was founded by Silicon Valley engineers who built cutting-edge software at Amazon, Salesforce, and other lead innovators in cloud computing. FleetPanda is backed by leading Investors in Silicon Valley.
About 3L Energy Solutions
Founded in 1973 by Lemuel L. Leach, Jr., 3L began as a family-owned and operated petroleum distributor committed to fair pricing, dependable products, and reliable service. Now as the distribution arm of global commodity trading firm Spec Oil, 3L Energy Solutions retains the values of its family-business roots as it serves customers in Texas and beyond. 3L's commitment to efficiency continues through its sustainability efforts, too, such as its green state-of-the-art headquarters in Houston.
- Anand Kansal, Head of Marketing
- [email protected]
- +1 704 451 5716
Patrick Doolin, FleetPanda, 1 704 451 5716, [email protected]